What is the role of an Import Compliance Program?

An Import Compliance Program primarily aims to ensure adherence to customs and trade regulations. It involves establishing procedures and controls to align an organization’s importing activities with the relevant laws and regulations set forth by customs authorities. This compliance is crucial as it minimizes the risk of legal issues, penalties, and other adverse consequences associated with non-compliance.

The program typically encompasses training staff, conducting audits, maintaining accurate import records, and staying updated on changes in trade regulations. By prioritizing compliance, companies can facilitate smoother transactions, gain a better understanding of their legal obligations, and foster positive relationships with customs authorities and trade partners.

While limiting imports, assisting with export documentation, or conducting market research may be relevant in certain contexts, they do not capture the core function of an Import Compliance Program, which is fundamentally about ensuring regulatory adherence for imports.